AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 96.95800 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 98.05700 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish SBS White Lines’ candlestick pattern is discovered. The candles show ‘Bearish SBS White Lines’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.05700 |
| Current Price | 97.26900 |
| Next Low | 96.95800 |
| 2nd Low | 95.98200 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish SBS White Lines